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LISC Grant Agreement PA# 55411-0001 for City of Everett <br />Page 5 of 8 <br />Attachment A <br />GRANT TERMS AND CONDITIONS <br /> <br />1. Funds Not Disbursed By the Expiration Date: All requests for reimbursement of <br />expended funds pursuant to the Grant Agreement (in furtherance of the Purpose(s) of the <br />Grant) must be received by LISC no later than 60 days after the Grant end date. Any Grant <br />funds not expended by the Grantee by the Expiration Date shall be automatically <br />reprogrammed by LISC, and shall no longer be available for disbursement to the Grantee; <br />provided, however, that if the Expiration Date is extended, then the funds shall remain <br />available for disbursement until the new Expiration Date. <br />2. Funds Not Disbursed in a Timely Way: Any funds not drawn down in a timely fashion <br />during the term of the Grant may be deobligated by LISC in its sole discretion after notice to <br />the Grantee. Such deobligation shall be effective as to any Grant proceeds not expended by <br />the Grantee prior to the date of receipt of such notice. <br /> <br />3. No Disbursement if Non-Compliance. LISC shall not make any disbursement of the <br />Grant unless on the proposed date of disbursement the Grantee is in full compliance with all <br />these Grant Terms and Conditions set forth in the Grant Agreement. In addition, LISC shall <br />not make any disbursement of the Grant if it will (i) violate any provision of law, regulation <br />or administrative ruling to which LISC is subject, (ii) subject LISC to any tax, penalty, or <br />fine, or (iii) not further the charitable purposes of LISC. <br /> <br />4. No Disbursement if Default Exists, or Material Adverse Change Has Occurred: <br />LISC shall not make any disbursement of the Grant if, at the time of the proposed <br />disbursement, the Grantee, or any subsidiary of the Grantee, or any partnership affiliated <br />with the Grantee, is in default under the terms of any LISC financing, whether for the <br />Project or provided by LISC for any other project or purpose. In addition, LISC shall not <br />make any disbursement of the Grant if there has been a material adverse change in the <br />financial or other condition of the Grantee or the Project, including, but not limited to, any <br />adverse change in the Grantee’s key personnel working on the Project (with LISC <br />determining, in its reasonable discretion, what constitutes a material adverse change in key <br />personnel). <br /> <br />5. Restrictions on Use of the Grant: Under Sections 501 and 4945 of the Internal Revenue <br />Code (the "Code"), the Grant may not be used to carry on propaganda, to attempt to <br />influence legislation, or to participate in, intervene in, or attempt to influence the outcome <br />of, political campaigns or elections. Additionally, under the applicable provisions of the <br />Code, LISC funds may only be used in furtherance of LISC's charitable purposes. By <br />countersigning this Agreement and returning it to LISC, the Grantee agrees to (i) not use the <br />Grant for purposes prohibited by the preceding two sentences, (ii) use the Grant in <br />furtherance of the Grantee’s charitable purposes (as set forth in its Articles of Incorporation <br />and Application For Recognition of Exemption to the IRS), and (iii) promptly reimburse <br />LISC any Grant amounts not used to further charitable purposes. <br />